Krugman

Archive for Krugman

The Non-Falsifiable “Empirical” Frameworks of Paul Krugman and Scott Sumner

[UPDATE below.] The defenders of both gentlemen will no doubt frame the matters differently, but my following summaries of four total blogs posts–two from Krugman and two from Sumner–are perfectly accurate. KRUGMAN #1: In this post Krugman endorses (with a parenthetical caveat) Raj Chetty’s claim that empirical work shows that the extension of unemployment benefits […]

Accounting Identities Versus Economic Theories

OK I’m going to crowdsource this one, because I’m guessing in the comments there will be two camps who will eventually reach the truth (at least in my mind). In a previous post I alluded to Brad DeLong bringing up a 2009 Fama essay on the impotence of stimulus spending. Upon seeing DeLong’s post, Krugman […]

Now That Debt Crisis Can’t Be Blamed on Tea Party, Krugman Back to Saying It’s Expansionary

[UPDATE below.] Sometimes the cognitive dissonance in Krugman’s mind could power a small city. As regular readers know, I was going nuts during the debt ceiling standoff, because Krugman was parroting the standard talking points as if a default would be a disaster. For example he wrote on September 25: Add me to the chorus […]

George W. Krugman

Some people are sore losers, but Krugman is a sore winner on the debt ceiling. Here’s part of his post-game show: [The organization titled] Fix the Debt didn’t just help create a climate of crisis with its fearmongering over the deficit; the fiscal scolds actively cheered GOP hostage-taking in 2011, and were still lending support […]

Potpourri

==> The observant von Pepe sends this CFR critique of Krugman. ==> If I do say so myself, I think I had a nice example in this post to illustrate a problem with the EPA’s cost/benefit procedures. (It involves changing the oil on 18-wheelers, for those who saw my inquiry on Facebook.) ==> Amanda Billyrock […]

Krugman on ObamaCare: If We Can Insure Just One Person…

In light of the disastrous problems people are having signing up with ObamaCare–on NPR they just said the White House is still refusing to release any numbers–we’ve had some fun with Krugman’s proclamation on October 1, in a post titled, “Good Glitches,” where Krugman triumphantly informed us: So, very early reports are that Obamacare exchanges […]

Someone Tell Krugman: More “Good Glitches” on Health Exchanges

Remember that on opening day of Healthcare.gov, Paul Krugman said the fact that people were hitting snafus with the website was actually a good thing, a sign of how many people were signing up. Well, Tyler Cowen links to Bob Laszewski’s alarming report on his investigations into the implementation of the ACA (aka ObamaCare). Here’s […]

Krugman on Treasury Default: 57% of the Budget “Isn’t That Much”

I realize I’m blogging a lot of my favorite Keynesian lately, but he keeps pushing the envelope. In the debt ceiling saga, the standard line of the Administration and its defenders is that Republican obstinancy will force Treasury Secretary Lew to default on government bonds, thus causing a global financial meltdown. Plenty of people (not […]